The IMF says China's slow growth was a big risk as the world's second biggest economy moves to growth led by consumption. Any kind of economic slowdown could affect Australia and other commodity exporters. China is one of the biggest consumers of energy in the world. China's trade surplus of US$27.13 billion missed expectations this June as both imports and exports declined as well. A government spokesperson says China's foreign trade to face "grave challenges" ahead.

Australian bonds are lower on speculation that a job rise in the U.S. will lead to an easing of bond buying by the Federal Reserve. According to a report by the U.S. that claimed 195,000 new jobs emerged in June.

It was not as invincible as it was but Apple, according to analysts, remains in “a fairly positive position,” and the looming iPhone 5S release date plus the rumoured iPhone 6 debut next year will further strengthen the tech titan.

The decision of Australia's central bank to cut interest rates to 53-year low has been well received by business groups still reeling from aneamic economic fundamentals led by exports and low consumer demand.

Bell FX, CMC Markets Currency Outlook: The Australian Dollar was well bid in overnight trading, particularly against the EUR, as initial optimism over the Cyprus bank bailout plan gave way to concerns about what it could mean for other European economies. Nonetheless, this does not remove the cautious stance of most investors leading into the Easter holiday.

Australia's sharemarket shed 2 per cent on Monday over investor worries on the Cyprus bailout problem. The All Ordinaries index declined 101.9 points or 1.99 per cent at 5,027.4, while the benchmark S&P/ASX200 index dipped 104.8 points or 2.05 per cent at 5,015.4.

Bell FX Currency Outlook: The AUD traded at a high of 1.048 yesterday afternoon after House Speaker John Boehner offered a downbeat assessment of progress in budget talks in Washington. AUD currently trading at around 1.043.

While the Reserve Bank of Australia (RBA) had retained on Tuesday the current 3.5 per cent overnight cash rate for the third consecutive month, the central bank at the same time signaled it is ready to cut rates in October.

Approvals for building new home constructions dropped by 2.5 per cent in June, latest data released by the Australian Bureau of Statistics (ABS) showed, but was actually less than what industry experts had expected.

The housing market retreated again in the first month of 2012 following its strong showing in December though economists have been upbeat that the rest of the year would witness some form of recovery as investors' confidence regain enough traction.

The Reserve Bank of Australia (RBA) has maintained the country's benchmark rates at 4.25% considering an economic turnaround by the second half as a result of some structural changes especially the onset of the carbon price on inflation.

The Australian stock market is off to a positive start on Tuesday's trading day, as overnight leads from the European and U.S. stocks markets were taken, though lightly by investors still wary how the recent jump in oil prices will curb potential earnings.

The Australian stock market has begun with a heady, flat start this morning as the country watches the voting caucus among Labor Party leaders. Although analysts expect Julia Gillard to win, Australians and observers are still disappointed at the cracks in the leadership foundation of the party and confidence among voters will be difficult to rein.

Foreign Minister Kevin Rudd resigned from his post Wednesday night, leading to a leadership battle in the Australian Labor Party. Rudd, who was ousted as prime minister by Julia Gillard in 2010, said he has lost her confidence.